What if you had copied Point72?
Steve Cohen
The verdict
Copying Point72's 13F filings from Feb 2020 would have turned $10,000 into $27,045, more than the S&P 500 did.
The S&P 500 turned the same $10,000 into $24,639 over the same days. The copy returned +15.9% a year against +14.4% for the S&P 500, 1.6 points a year ahead. Its worst fall was 34.9%, from Feb 19, 2020 to Mar 18, 2020. The S&P 500's worst fall over the test was 33.7%.
Copied Feb 18, 2020 to Nov 9, 2026 · SEC 13F filings and daily closes
What $10,000 became
- Copying Point72$27,045
- S&P 500$24,639
- Bought their first portfolio and never traded$24,660
If you had bought their first portfolio and never traded, you would have ended at $24,660, so following every move earned $2,385 more.
- $10,000 copied
- $27,045
- +170.4%, +15.9% a year
- In the S&P 500
- $24,639
- +146.4%, +14.4% a year
- No trading
- $24,660
- Bought their first portfolio and never traded
- Worst fall
- −34.9%
- Feb 19, 2020 to Mar 18, 2020
- Trades
- 1,288
- 669 buys, 619 sales over 31 filings; about 212% of the copy traded a year
The moves that made the most
- NVDANVIDIA+$1,736
Held from May 2023 to Aug 2026, the stock up 672%
- COHRCoherent+$1,372
Held from May 2024 to May 2026, the stock up 602%
- AMZNAmazon.com+$1,124
Held since Feb 2020, the stock up 150%
Held from Feb 2020 to Nov 2024, the stock up 697%
- METAMeta Platforms+$889
Held since Nov 2020, the stock up 138%
- TERTeradyne+$845
Held since Aug 2024, the stock up 15%
The moves that cost the most
Held since Nov 2024, the stock down 23%
Held from Feb 2021 to May 2025, the stock down 40%
- MKSIMks−$335
Held since May 2020, the stock down 6%
- SESea−$301
Held since Nov 2021, the stock down 72%
- RNGRingcentral−$243
Held from Feb 2021 to May 2022, the stock down 79%
Held from Feb 2020 to Nov 2023, the stock down 53%
Year by year
| Year | Copy | S&P 500 | Gap, pts |
|---|---|---|---|
| 2020from Feb 2020 | +19.5% | +13.1% | +6.4 |
| 2021 | +15.6% | +28.7% | −13.2 |
| 2022 | −22.7% | −18.2% | −4.5 |
| 2023 | +38.4% | +26.2% | +12.2 |
| 2024 | +30.8% | +24.9% | +5.9 |
| 2025 | +30.2% | +17.7% | +12.5 |
| 2026to Nov 2026 | +7.5% | +11.5% | −3.9 |
A historical test on paper, before costs and taxes. It trades at the close of the first trading day after each filing comes out, up to 45 days after the quarter, and skips delisted companies, which flatters it.